Watch Counterfeit foreign money syndicate in Indonesia busted after faux S$10,000 notes floor in Singapore on line casino – Singapore News

SINGAPORE — Singapore and Indonesia police have busted a counterfeit foreign money syndicate after the presentation of faux S$10,000 notes at a Singapore on line casino.

The Singapore Police Pressure (SPF) stated on Thursday (1 February) that 4 Indonesian males had been arrested in reference to this operation, following a joint investigation by Singapore’s Industrial Affairs Division (CAD) and the Indonesian Nationwide Police.

SPF grew to become alerted to the case on 21 September 2023, when an Indonesian couple tried to change a faux S$10,000 notice for on line casino chips.

On line casino’s discovery results in joint effort by CAD and Indonesian police

Upon being knowledgeable of the counterfeit nature of the notice, the person introduced one other S$10,000 notice for verification. The on line casino withheld each notes, subsequently handing them over to the CAD for investigation. The data relating to the counterfeit notes was additionally shared with the Indonesian police.

Investigations unveiled that the couple had travelled from Batam to Singapore on the identical day and had obtained the 2 notes from a enterprise affiliate in Batam as fee for a enterprise transaction. The couple meant to make use of the notes for playing on the on line casino, in response to the police assertion.

“As there was inadequate proof to recommend that the couple had been conscious that the notes they had been in possession of had been counterfeit, the police, in session with the Legal professional-Common’s Chambers, has taken no additional motion in opposition to the couple,” it added.

In Indonesia, authorities carried out three raids in Riau and West Java provinces between 15 and 20 November. Three Indonesian males, aged 39 to 48, had been arrested for suspected involvement in counterfeiting and distributing banknotes.

Throughout these operations, a complete of 390 items of S$10,000 banknotes, suspected to be faux, had been seized. A fourth suspect, a 51-year-old Indonesian, was lately arrested by the Indonesian police, in response to SPF.

Public reminded to remain vigilant within the face of counterfeit threats

David Chew, the director of CAD, emphasised the necessity for shut collaboration with international legislation enforcement businesses to fight counterfeit foreign money syndicates.

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The police additionally highlighted the potential for giant losses to victims and undermining confidence within the foreign money on account of counterfeit banknotes. It reminded the general public to stay vigilant and study notes that aren’t generally out there however stay in circulation as authorized tender.

Detailed details about the security measures of genuine Singapore foreign money might be accessed on the Financial Authority of Singapore’s web site.

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